Ditapis dengan
Speculation and Hedging in Segmented Markets
We analyze a model in which traders have different trading opportunities and learn information from prices. The difference in trading opportunities implies that different traders may have different trading motives when trading in the same market—some trade for speculation and others for hedging—and thus they may respond to the same information in opposite directions. This implies that addin…
- Edisi
- Vol. 27 No. 3, Mar 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 956 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- TRFS2703
Do Dark Pools Harm Price Discovery?
Dark pools are equity trading systems that do not publicly display orders. Dark pools offer potential price improvements but do not guarantee execution. Informed traders tend to trade in the same direction, crowd on the heavy side of the market, and face a higher execution risk in the dark pool, relative to uninformed traders. Consequently, exchanges are more attractive to informed traders, and…
- Edisi
- Vol. 27 No. 3, Mar 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 956 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- TRFS2703
Expectations of Returns and Expected Returns
We analyze time series of investor expectations of future stock market returns from six data sources between 1963 and 2011. The six measures of expectations are highly positively correlated with each other, as well as with past stock returns and with the level of the stock market. However, investor expectations are strongly negatively correlated with model-based expected returns. The evidence i…
- Edisi
- Vol. 27 No. 3, Mar 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 956 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- TRFS2703
When There Is No Place to Hide: Correlation Risk and the Cross-Section of Hed…
Using a novel data set on correlation swaps, we study the relation between correlation risk, hedge fund characteristics, and their risk-return profile. We find that the ability of hedge funds to create market-neutral returns is often associated with a significant exposure to correlation risk, which helps to explain the large abnormal returns found in previous models. We also estimate a signific…
- Edisi
- Vol. 27 No. 2, Feb 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 661 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- TRFS2702
The Economics of Solicited and Unsolicited Credit Ratings
This paper develops a dynamic rational expectations model of the credit rating process, incorporating three critical elements of this industry: (1) the rating agencies' ability to misreport the issuer's credit quality, (2) their ability to issue unsolicited ratings, and (3) their reputational concerns. We analyze the incentives of credit rating agencies to issue unsolicited credit ratings and t…
- Edisi
- Vol. 27 No. 2, Feb 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 661 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- TRFS2702
The Growth and Limits of Arbitrage: Evidence from Short Interest
We develop a novel methodology to infer the amount of capital allocated to quantitative equity arbitrage strategies. Using this methodology, which exploits time-variation in the cross-section of short interest, we document that the amount of capital devoted to value and momentum strategies has grown significantly since the late 1980s. We provide evidence that this increase in capital has result…
- Edisi
- Vol. 27 No. 4, Apr 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 1286 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- TRFS2704
Opaque Trading, Disclosure, and Asset Prices: Implications for Hedge Fund Reg…
We investigate the effect of ambiguity about hedge fund investment strategies on asset prices and aggregate welfare. We model some traders (mutual funds) as facing ambiguity about the equilibrium trading strategies of other traders (hedge funds). This ambiguity limits the ability of mutual funds to infer information from prices and has negative effects on market outcomes. We use this analysis t…
- Edisi
- Vol. 27 No. 4, Apr 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 1286 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- TRFS2704
Communication and Decision-Making in Corporate Boards
Time constraints, managerial power, and reputational concerns can impede board communication. This paper develops a model where board decisions depend on directors' effort in communicating their information to others. I show that directors communicate more effectively when pressure for conformity is stronger—that is, when directors are more reluctant to disagree with each other. Hence, open b…
- Edisi
- Vol. 27 No. 5, May 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 1614 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- TRFS2705
Liquidity Shocks and Stock Market Reactions
We find that the stock market underreacts to stock-level liquidity shocks: liquidity shocks are not only positively associated with contemporaneous returns, but they also predict future return continuations for up to six months. Long-short portfolios sorted on liquidity shocks generate significant returns of 0.70% to 1.20% per month that are robust across alternative shock measures and after co…
- Edisi
- Vol. 27 No. 5, May 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 1614 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- TRFS2705
Wisdom of Crowds: The Value of Stock Opinions Transmitted Through Social Media
Social media has become a popular venue for individuals to share the results of their own analysis on financial securities. This paper investigates the extent to which investor opinions transmitted through social media predict future stock returns and earnings surprises. We conduct textual analysis of articles published on one of the most popular social media platforms for investors in the Unit…
- Edisi
- Vol. 27 No. 5, May 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 1614 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- TRFS2705
Investor Networks in the Stock Market
We study the trading behavior of investors in an entire stock market. Using an account level dataset of all trades on the Istanbul Stock Exchange in 2005, we identify investors with similar trading behavior as linked in an empirical investor network (EIN). Consistent with the theory of information networks, we find that central investors earn higher returns and trade earlier than peripheral inv…
- Edisi
- Vol. 27 No. 5, May 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 1614 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- TRFS2705
Do Security Analysts Speak in Two Tongues?
Why do security analysts issue overly positive recommendations? We propose a novel approach to distinguish strategic motives (e.g., generating small-investor purchases and pleasing management) from nonstrategic motives (genuine overoptimism). We argue that nonstrategic distorters tend to issue both positive recommendations and optimistic forecasts, while strategic distorters "speak in two tongu…
- Edisi
- Vol. 27 No. 5, May 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 1614 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- TRFS2705
Frog in the Pan: Continuous Information and Momentum
We test a frog-in-the-pan (FIP) hypothesis that predicts investors are inattentive to information arriving continuously in small amounts. Intuitively, we hypothesize that a series of frequent gradual changes attracts less attention than infrequent dramatic changes. Consistent with the FIP hypothesis, we find that continuous information induces strong persistent return continuation that does not…
- Edisi
- Vol. 27 No. 7, Jul 2014
- ISBN/ISSN
- 1465-7368
- Deskripsi Fisik
- 2266 p.
- Judul Seri
- The Review of Financial Studies
- No. Panggil
- RFS2707
Managing and using information systems : a strategic approach
Includes bibliographies, index and tables
- Edisi
- -
- ISBN/ISSN
- 471320013
- Deskripsi Fisik
- xviii, 278 p. : ill. ; 24 cm.
- Judul Seri
- -
- No. Panggil
- 658.4038 PEA m
The Third wave: an entrepreneur's vision of the future
Steve Case—a pioneer who made the Internet part of everyday life—was on the leading edge of a revolution in 1985 when he co-founded AOL, the first Internet company to go public and the most successful business of the 1990s. Back then Case was an entrepreneur in an industry that hadn’t really been invented yet, but he had a sense how dramatically the Internet would transform business and s…
- Edisi
- -
- ISBN/ISSN
- 9781501132582
- Deskripsi Fisik
- xv, 221 p. : ill. ; 22 cm.
- Judul Seri
- -
- No. Panggil
- 338.47004678 CAS t
Could We Huddle on This Project? Participant Learning in Newsroom Conversations
Huddles—informal gatherings of two or more individuals, convened to discuss substantive issues regarding the work of one or more of the participants—are a form of social interaction that can play a critical role in the learning of organizational actors. We identify their defining properties and propose a multi-level framework for understanding the participant- and huddle-level factors that …
- Edisi
- Vol. 42 No. 2, Feb 2016
- ISBN/ISSN
- 1557-1211
- Deskripsi Fisik
- 556 p.
- Judul Seri
- Journal of Management
- No. Panggil
- -
Post-capitalist society
Includes index
- Edisi
- -
- ISBN/ISSN
- 887306209
- Deskripsi Fisik
- 232 p. ; 25 cm.
- Judul Seri
- -
- No. Panggil
- 330.9049 DRU p
Evaluasi Prosedur Audit atas Pengamanan Sistem pada Fitur Bank Digital PT BCD…
Laporan magang ini ditulis untuk membahas evaluasi terhadap prosedur audit teknologi informasi yang dilakukan oleh KAP XYZ terhadap salah satu fitur yang akan dirilis oleh PT BCD pada produk bank digital Bank Mobile, yaitu Onboarding Webview di aplikasi mitra Bank sebagai saluran promosi yang memungkinkan calon nasabah untuk membuka rekening Bank Mobile di dalam aplikasi mitra Bank tersebut. Se…
- Edisi
- -
- ISBN/ISSN
- -
- Deskripsi Fisik
- xi, 69 p. : il. ; 30 cm.
- Judul Seri
- -
- No. Panggil
- S 15396
Evaluasi Penerapan Pengendalian Internal pada Siklus Pendapatan PT MKL
Laporan magang ini disusun untuk mengevaluasi penerapan pengendalian internal pada siklus pendapatan PT MKL. Evaluasi dilakukan dengan menentukan kesesuaian pengendalian internal yang telah diterapkan oleh PT MKL dengan kerangka pengendalian internal siklus pendapatan yang telah dipaparkan oleh Romney dan Steinbart (2021). Secara keseluruhan, semua tahapan pada siklus pendapatan PT MKL telah me…
- Edisi
- -
- ISBN/ISSN
- -
- Deskripsi Fisik
- xii, 64 p. : il. ; 30 cm.
- Judul Seri
- -
- No. Panggil
- S 15382
How Are We Doing After 30 Years? A Meta-Analytic Review of the Antecedents an…
This study provides meta-analytic estimates of the antecedents and consequences of feedback-seeking behavior (FSB). Clear support was found for the guiding cost/benefit framework in the feedback-seeking domain. Organizational tenure, job tenure, and age were negatively related to FSB. Learning and performance goal orientation, external feedback propensity, frequent positive feedback, high self-…
- Edisi
- Vol. 41, No. 1, Jan 2015
- ISBN/ISSN
- 1492063
- Deskripsi Fisik
- 377 p.
- Judul Seri
- Journal of Management
- No. Panggil
- JOM4101
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